Bahrain Mirror: Central Bank of Bahrain (CBB) Governor Rashid Al-Miraj said that issue of tax regimes and raising it in the Gulf States remain a financial matter under the specialty of the Ministry of Finance and the Finance Ministers in the region, who are competent to deal with such issues.

Al-Miraj stressed in an interview with CNN, on the sideline of the World Islamic Banking Conference hosted by Manama, that his country took several steps, months ago, to counter the impact of oil decline on the budget deficit.

"We took several measures to address this issue since the last year. We submitted some decisions that were taken in order to rationalize government support and other expenses. Besides, we suggested some measures related to the revenues," he further stated

Rashid Al-Miraj went on to say "We are in a continuous process to review all our spending whilst searching for a way to decrease the budget deficit."

Arabic Version